A bank locker is an important service offering that bank depositors look for. They resent the fact that banks are not giving out lockers as a matter of service; they are sore about the conditions they impose while providing the facility. Banks, on the other hand, argue that this is not their core business and they cannot be held responsible for issues connected with lockers. To examine these issues, we had published a Cover Story in 2011. Four years later, the core issues remain unchanged. This time, our Cover Story highlights the security of bank lockers, in addition to the main issues. We conducted a survey of over 700 Moneylife members to assess customer perception regarding bank lockers. A majority already have a bank locker and are satisfied. Those, who do not, were unaware of the rules or about the rising realty costs. Many were not aware that they can take insurance cover for the valuables stored. Read all our findings in the Cover Story.

Social media users would feel more secure after the Supreme Court’s judgement scrapping Section 66A of the Information Technology Act. This draconian Section allowed the police, and everyone who could influence them, to arrest people, based on their interpretation of “grossly offensive or menacing messages.” Sucheta, in her column, discusses that this is just one of the many government-created tools of harassment.

The National Pension System (NPS) was launched in 2004. Eleven years later, even those involved in the launch of NPS seem confused about its design, marketing and taxation. Sucheta, in her Crosshairs column, highlights how D Swarup, who designed NPS has no qualms about suggesting that the first of NPS investors would be the guinea pigs for the tax department!

The government has allowed an additional tax deduction of Rs50,000 under NPS. Does it make sense to go for it? We take a look at how NPS compares with alternatives, such as public provident fund and equity mutual funds. Turn to page 24. As always, do write in with your feedback and suggestions.

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Senior leader and anti-Narmada Dam activist Medha Patkar on Saturday said that she has quit the AAP following dissident leaders Yogendra Yadav and Prashant Bhushan's expulsion from the party's national executive in Delhi.

Announcing her decision at a hurriedly convened press conference, Patkar expressed pain over the development and said: "Whatever happened in AAP meeting is inappropriate and I condemn it."

Patkar said the violence and other happenings show disrespect to the party's senior leaders and did not augur well and so she has decided to quit.

Patkar is reported to have been unhappy with Delhi Chief Minister Arvind Kejriwal's style of functioning.

Besides Patkar, several groups and activists of the National Alliance of Peoples' Movements are expected to follow suit.

On March 6, senior AAP leader Mayank Gandhi had unfurled the banner of revolt by revealing AAP internal meetings and later claimed he was being targeted.

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COMMENTS

MG Warrier

2 years ago

The goings on within AAP or the criticism AAP is facing would not surprise those who have been watching the ‘evolution’ of AAP as a political party. The emergence of AAP on India’s political scene was welcomed by many including this writer. Not because we expected AAP to become a political alternative at a time when both left and right, as also the middle, if one existed, political forces and their leaderships were doing more harm to the country than good. AAP served as a timely ALARM or Wake-up Call for the people of India who left their destiny to the inefficient and corrupt political leadership. AAP has played its role as a change agent. For sustaining the change, ‘WE THE PEOPLE’ should take charge.

Pradeep Kumar

In Reply to MG Warrier2 years ago

We the people are often intellectually lethargic, reactive,and even more, often self serving in a very short sighted way.This is what I have learned from my last Loksabha experience, on having to lead at a tiny area in Kerala. I had no public experience of any sort till then. It was extremely difficult to keep up one's morale and patience. The so called PEOPLE will never rise up to do anything for themselves. The fired up leaders have to inspire, spoon feed and baby sit the public.That is why the country has gone to the dogs. Why should any person, other than a few with burning passion against corruption, either spoon feed or baby sit. We the people will never take charge (of anything)As for AAP, I love Moneylife's article "perfect victory". That precisely sums up my feelings and my heart is with AK.